Coordination of the parties

The Terna Group "Internal Control and Risk Management System" involves, each insofar as they are competent, the Board of Directors, the CEO identified by the Board as the "Director in charge of the Internal Control and Risk Management System", the Control and Risks Committee, the Board of Statutory Auditors, the Audit Department and its Manager, the Supervisory Body (SB) instituted in accordance with Italian Legislative Decree no. 231 of June 8, 2001, the CEO (Executive in Charge) instituted in accordance with Article 154-bis of the Consolidated Law on Finance, the Chief Risk Officer (CRO) and provides for the ways in which they shall liaise, describing roles and competences on the Internal Control and Risk Management System, in order to maximise the overall efficiency of the ICRMS and reduce duplication of activities.

In order to guarantee suitable coordination between the parties involved in the ICRMS, Terna implements:

  • suitable, continuous flows of information between the parties involved in the ICRMS;
  • specific meetings for the management of specific situations or events, needed to ensure prompt control of exposure to risks and the recognition of operative anomalies;
  • regular meetings to notify the status of the risk management system and plan tests;
  • systematic forecasting reporting and reports on the summary of exposure to risk, with different information levels according to the addressee.